The Impact Of Corporate Social Responsibility On Financial Performance Of Selected Deposit Money Banks In Nigeria
ABSTRACT
This study examined the impact of corporate social responsibility on financial performance of deposit money banks in Nigeria using cross sectional data from 2016-2020. The study modeled return on equity, profit after tax and earnings per share as the functions of corporate social responsibility. Using judgmental sampling method as the method of selecting the sample size, nine (9) deposit money banks (with international and national authorization) listed in the Nigerian Stock Exchange were selected. Multiple regressions with econometrics view software were used as data analyses techniques. In relation to the objective of the study, findings revealed that there is a strong, positive and significant relationship between corporate social responsibility and financial performance of deposit money banks in Nigeria. From the findings, one of the recommendations made is that all stakeholders should ensure that they encourage their banks to have serious commitment towards CSR as this has proven to add value to their investment in the long run. This will particularly encourage those investors who are interested in long term investment.